VendorNet Announces the Release of VendorNet Stock PO Manager

New Retailer/Supplier Online Collaboration Technology Reducing Operational And Inventory Expenses For Early Adopters

BOCA RATON, FL., October 1, 2002 - VendorNet announced today limited availability of its newest addition to the company's flagship product VendorNet Commerce Suite - VendorNet Stock PO Manager. Included in VendorNet Commerce Suite Version 3.1, the new technology enables online collaboration between bulk order suppliers and multi-channel retailers drastically reducing operational and inventory expenses.

VendorNet Stock PO Manager resolves revenue impacting communication and visibility issues currently hindering retailer's inventory purchasing, replenishment, order tracking, and invoicing processes. Through a web-based interface, VendorNet Stock PO Manager creates a real-time communication link between retailers and suppliers enabling intelligent management of the entire inventory supply chain process. Whether a supplier is located domestically or abroad, VendorNet Stock PO Manager delivers a solution that simplifies ordering, improves order visibility, lowers inventory and shipping costs, and enhances retailer and supplier relationships.

"VendorNet Stock PO Manager brings tremendous value to the retailer and supplier business community because it replaces what is today a largely manual process," states Sharon Gardner, president at VendorNet. With the ability to communicate in real time, retailers have more confidence and control over the supply chain allowing them to make more intelligent business decisions to improve bottom-line revenue."

This technology provides online visibility and monitoring throughout the entire lifecycle of an order to ensure proper processing and handling - from point of inception, to delivery to the warehouse, through invoicing. As retailers issue purchase orders, suppliers can immediately retrieve and acknowledge receipt via the web-based interface. If order modifications are required, suppliers can make the changes online giving retailers instant access for approval processing. This online collaboration between retailers and suppliers dramatically decreases the turn around time for order placement and approval, and alleviates potential inventory short falls or overages.

VendorNet Stock PO Manager also incorporates automated Advanced Shipment Notification (ASN) processing and UCC128 barcode generation for the suppliers, which triggers alerts to a retailer's Warehouse Management System enhancing inventory receipt and deployment planning. Automated invoice matching and order exception management functions expedite processing and reduce personnel requirements. The VendorNet Commerce Suite supports all levels of supplier sophistication. Its simple-to-use web interface allows suppliers to access orders for acknowledgement, and to print or import orders directly to their own processing system. VendorNet Stock PO Manager also supports multiple languages and currencies to accommodate international suppliers. Invoicing and payment processing is also streamlined through automated currency conversions.

"VendorNet Stock PO Manager is going to save an inordinate amount of time and manual effort in dealing with our bulk order suppliers," says Madge Kellick, manager of inventory planning at The Wine Enthusiast Company. A significant number of these suppliers are international, which means longer lead times in every step of the inventory order and invoicing process, communication barriers due to language and time differences, and the obvious currency issues. With VendorNet Stock PO Manager, we essentially have electronic clerks that eliminate these obstacles. We should see our order placement to inventory receipt time cut by days if not weeks. It should also allow us to extend our product offerings by making products part of our inventory that were previously not considered simply due to logistics."

The Wine Enthusiast Company is one of VendorNet's beta customers for VendorNet Stock PO Manager. The module is scheduled for General Release in Q1, 2003. VendorNet Stock PO Manager complements the VendorNet Dropship Manager module, released earlier this year, which automates the information flow between businesses that sell direct to consumers and ship direct from suppliers.

About VendorNet
VendorNet delivers web-based supply chain management solutions to multi-channel retailers enabling real-time collaboration with suppliers. Its flagship product, VendorNet Commerce Suite, establishes a powerful foundation for solutions that dramatically improve supply chain processes, reduce costs, and strengthen retailer/supplier relationships. Its open and flexible platform enables retailers to electronically link to suppliers regardless of their level of sophistication. VendorNets' growing client base includes leading retail, catalog and e-commerce companies such as Levenger Company, Cornerstone Consolidates Services Group, Inc., Hammacher Schlemmer & Company, Inc., Sensational Beginnings, TigerDirect, Inc., CompactAppliance.com, and The Wine Enthusiast Company. For more information, visit www.vendornet.com

Contact:
VendorNet
Sharon Gardner
561.392.6280
sgardner@vendornet.com